ItaA Unibanco Holding S.A. (ITUB), a provider of financial products and service, has seen an increase of 0.75% in premarket trading session. As a result of that, ITUB stock is changing hands at $5.39 at the time of this writing. That has come after ITUB stock closed the day $5.35 on Wednesday.
ITUB open for expansion
On 10th of August, ITUB Chief Executive Alfredo Setubal said that the company is open for the expansion of its investment services in agribusiness companies and in renewable energy. He said that while addressing a press conference. He further went on to say that the company is considering to invest in other sectors besides water and sewage. Recently, ITUB invested in a company which provides water and sewage services on a large scale.
ITUB corporate restructuring
On 27th of July, ITUB announced that the central bank of Brazil approved the corporate restructuring, which was meant to segregate the business of ITUB in connection withequity interest in XP Inc. (“XP”). The move came in line with the Materials facts, which were disclosed on November 3rd, 26th and December 31st 2020. Besides, it was also disclosed on January 31st and May 31st 2021. According to company, the shares issued by ITUB and American depository shares would be continually traded which would also include the right to receive the securities issued by the XPart until cutoff date.
Project Carbon
On 7th of July, ITUB announced to have entered into the project carbon. Other companies included in the partnership are CIBC, National Australia Bank and NatWest Group. Project carbon aims to support a global market for quality carbon offsets. That would be done via clear and consistent pricing. The companies said that the project would provide a pathway to achieve the goal of net zero emissions. The company said that the project would facilitate the creation of a strong environment for support of offset market as well as development of tools to help the clients manage risks of climate change. All the companies’ part of the venture said that they are keen to invite likeminded institutions to join them in this regard.
Partnership with DFC
In late April, ITUB announced that it had raised $400 million with US DFC in the international market. The company said that the initiative underlies the inclusion and entrepreneurship commitment by the company, which aims to improve the financial management of very small companies via offering suitable products and services. Renato Lulia Jacob, Group Head of Investor Relations and Market Intelligence, said that the partnership illustrates the focus in the word where women are in abject state of affair and living miserably.
What’s next for ITUB?
Based on previous performance, it seems that future has something great in store for ITUB stock. The stock has increased by 13.03% during the previous half year, indicating the performance parameters in near future. So, potential investors should keep a close watch on ITUB stock.
